SunTrust Banks, Inc. (NYSE:STI) has been assigned an average recommendation of “Hold” from the twenty-seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $68.13.
Several research firms have weighed in on STI. Morgan Stanley upgraded SunTrust Banks from an “equal weight” rating to an “overweight” rating and set a $68.00 target price on the stock in a report on Monday. Vining Sparks reiterated a “buy” rating and set a $85.00 target price on shares of SunTrust Banks in a report on Monday. UBS Group lowered SunTrust Banks from an “outperform” rating to a “market perform” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded SunTrust Banks from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday. Finally, Sandler O’Neill lowered SunTrust Banks from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Monday, October 23rd.
SunTrust Banks (STI) opened at $66.35 on Tuesday. SunTrust Banks has a 12-month low of $51.96 and a 12-month high of $67.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $31,580.00, a price-to-earnings ratio of 17.01, a PEG ratio of 1.58 and a beta of 1.29.
SunTrust Banks (NYSE:STI) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. SunTrust Banks had a return on equity of 8.83% and a net margin of 20.88%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company earned $0.91 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. research analysts anticipate that SunTrust Banks will post 4.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, November 29th. SunTrust Banks’s dividend payout ratio is 41.03%.
In related news, Director Kyle P. Legg sold 3,300 shares of SunTrust Banks stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.82, for a total value of $72,006.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Mark A. Chancy sold 4,000 shares of SunTrust Banks stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.06, for a total value of $240,240.00. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of SunTrust Banks by 0.7% in the second quarter. Vanguard Group Inc. now owns 32,947,441 shares of the financial services provider’s stock valued at $1,868,780,000 after acquiring an additional 227,501 shares during the last quarter. FMR LLC increased its position in shares of SunTrust Banks by 4.3% in the second quarter. FMR LLC now owns 29,614,981 shares of the financial services provider’s stock valued at $1,679,761,000 after acquiring an additional 1,219,272 shares during the last quarter. Capital World Investors increased its position in shares of SunTrust Banks by 20.7% in the second quarter. Capital World Investors now owns 29,513,083 shares of the financial services provider’s stock valued at $1,673,982,000 after acquiring an additional 5,056,000 shares during the last quarter. American Century Companies Inc. increased its position in shares of SunTrust Banks by 31.4% in the third quarter. American Century Companies Inc. now owns 7,293,744 shares of the financial services provider’s stock valued at $435,947,000 after acquiring an additional 1,742,756 shares during the last quarter. Finally, Boston Partners increased its position in shares of SunTrust Banks by 6.8% in the third quarter. Boston Partners now owns 6,812,235 shares of the financial services provider’s stock valued at $407,167,000 after acquiring an additional 433,042 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.
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SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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